Lockheed Martin said profits in the second quarter plunged almost 80 per cent after the US defence group incurred pre-tax charges of $1.6bn on several of its programmes.
Shares in the world’s biggest defence company behind the F-35 fighter jet fell 10.8 per cent in New York on Tuesday after it also slashed its earnings outlook for the year.
Lockheed cut its full-year earnings per share prediction to $21.70-$22, down from a previous forecast of as high as $27.30.
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